Travelport Worldwide Limited (TVPT) : The conviction of the bears is waning as is visible by the drop in the short positions from Jul 29, 2016, to August 15, 2016. The total outstanding shorts decreased from 2,065,891 to 2,058,319 shares, with 2 days to go before the expiry. The short open interest has decreased by -0.4%, amounting to a reduction of -7,572 shares. Only a handful of traders believe that the stock has a large downside from current levels, as seen in the low short interest of 1.7% of the float of the company. The average daily volume of the stock is 872,788 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Travelport Worldwide Limited (NYSE:TVPT): The stock opened at $13.70 on Wednesday but the bulls could not build on the opening and the stock topped out at $13.73 for the day. The stock traded down to $13.53 during the day, due to lack of any buying support eventually closed down at $13.55 with a loss of -1.02% for the day. The stock had closed at $13.69 on the previous day. The total traded volume was 457,395 shares.
In a related news, The director officer (President & CEO), of Travelport Worldwide Ltd, Wilson Gordon A. had unloaded 50,000 shares at $13.71 per share in a transaction on August 16, 2016. The total value of transaction was $685,500. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.
Travelport Worldwide Limited provides a travel commerce platform, which offers distribution, technology, payment and other solutions. The Company connects travel providers, such as airlines and hotel chains with online and offline travel agencies and other travel buyers in its business-to-business (B2B) travel commerce platform. It provides air distribution services to approximately 400 airlines around the world, including approximately 100 low cost carriers (LCCs). It distributes ancillaries for 25 airlines. In addition, it serves various Beyond Air travel providers, including over 650,000 hotel properties (of which over 550,000 are independent hotel properties), over 35,000 car rental locations and 61 cruise-line and tour operators. Its travel commerce platform, Air, provides real-time search, pricing, booking, change, payment and itinerary creation for travelers who use the services of online and offline travel agencies for both leisure and business travel.